About Hybrid solar storage cost breakdown in Egypt 2026
Egypt has reached an agreement with Norway's Scatec to pay 50% of the cost of electricity from its upcoming 1,000-megawatt hybrid solar project in Egyptian pounds, Asharq Business reported, citing sources familiar with the deal.
Egypt has reached an agreement with Norway's Scatec to pay 50% of the cost of electricity from its upcoming 1,000-megawatt hybrid solar project in Egyptian pounds, Asharq Business reported, citing sources familiar with the deal.
Egypt has reached an agreement with Norway's Scatec to pay 50% of the cost of electricity from its upcoming 1,000-megawatt hybrid solar project in Egyptian pounds, Asharq Business reported, citing sources familiar with the deal. Under the terms, the local currency portion will remain at 50% for the.
Oslo/Cairo, 15 June 2025: Scatec ASA has reached financial close for the “Obelisk” hybrid solar and battery storage project in Egypt. The non-recourse project financing comprises USD 479.1 million provided by the European Bank for Reconstruction and Development (EBRD), African Development Bank.
Independent power producer (IPP) Scatec has raised US$479 million for its Obelisk hybrid solar and battery storage project in Egypt. The funding is being provided by the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), and British International Investment.
The Nagaa Hammadi-based Obelisk hybrid solar and battery storage project by Scatec is estimated at USD 590 million. Norway-based renewable energy company Scatec ASA has announced the financial close for its landmark Obelisk hybrid solar and battery storage project in Nagaa Hammadi, Qena.
Egypt’s 1.1 GW Obelisk hybrid solar and storage project, led by Scatec, has secured $479.1 million in funding from EBRD, AfDB and BII, covering 80% of total costs. Obelisk energy will be sold to EETC under a 25-year USD PPA supported by Egypt’s sovereign guarantee. Image Source: Scatec ASA.
Scatec ASA has reached financial close for the “Obelisk” hybrid solar and battery storage project in Egypt. The non-recourse project financing comprises USD 479.1 million provided by the European Bank for Reconstruction and Development (EBRD), African Development Bank (AfDB), and British.
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